Moody's rates Hana Bank bonds Baa1

Moody's Investors Service said it assigned a Baa1 rating to the proposed dollar-denominated 10-year lower tier 2 subordinated bond issuance from South Korea-based Hana Bank's $2.5 billion global medium-term note program. The bonds are non-callable for five years.

The outlook is positive.

Moody's said the rating is underpinned by the bank's intrinsic financial condition and its systemic importance as part of the fourth-largest financial group in South Korea. Given its size and domestic ownership, it is likely to enjoy strong systemic support.

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